Grain Report Thursday - 30th January
What price do you want for your grain?
Overnight moves in international markets and yesterday's actual traded prices across Australia are below to help you determine your price. If you need to change your offer price, simply edit it before market open.
Grains markets enjoyed their best night for weeks as traders position themselves ahead of possible Trump tariffs. There is talk that China and the US might strike a deal on Chinese imports of US Ag goods to avoid tariffs.
Wheat exports are beginning to tick over again. Reports indicate that western European suppliers are becoming more prominent as Black Sea supplies dwindle.
Russian Ag minister said Russian grain exports in 2024-2025 will fall by one-fifth from last season's record.
Tunisia purchased wheat yesterday after a wave of demand from Moroccan buyers (unreported). Tunisia paid US$6/t more for Bulgarian soft wheat than at its previous tender in mid-December. Jordan tendered for 120,000t of milling wheat yesterday. Japan sought 90,000t of US and Canadian food wheat.
A run of French barley exports has also included loadings for Libya and Jordan while a shipment to Saudi Arabia is expected in coming days.
Forecasts for South America are becoming dryer for Argentina and wetter for Brazil. Much needed rain has disappeared from the Argentine forecast, while wet weather in Brazil is slowing soybean harvest and delaying the corn plant. Argie beans look to be in a bit of trouble.
$A lower at 62.3USc after a favourable inflation read increased the prospect of a local rate cut in Feb.
BOM still hot and dry. Good sorghum harvest weather.
Feed grains continue to look well supported. Sorghum was up another $3/t into Newcastle ports to $342/t to be up around $30/t since mid-Dec mirroring gains in global corn markets.
24/25 Best Bids 29/1
Wheat APW1 $373/t Kwinana (+2), $341/t Geelong (n/c).
Feed barley $343/t Kwinana (+3), $325/t Geelong (+1).
Canola non-GM $835/t (-5) & GM $750/t (+5) Kwinana, non-GM $767/t (n/c) & GM $663/t Geelong (n/c).
Open Market Call
Firm to $5/t higher. International wheat and corn futures were $8-10/t higher.
For further market commentary please contact the CGX team on 1800 000 410
CGX now own and operate the igrain market for grain stored on-farm
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